Product focus: No notice internet accounts - Savings - News - Moneyfacts

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Product focus: No notice internet accounts

Product focus: No notice internet accounts

Category: Savings

Updated: 17/12/2012
First Published: 01/06/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Introductory bonuses are often used by banks and building societies to boost the interest rate on a savings account to attract new business. While many bonus accounts offer attractive rates, it is important to remember that the actual bonus takes up a large part of the overall rate and tends to only run for around twelve months. After this period the bonus will expire, leaving a much lower rate in its place. For savers who want a decent rate for a limited period and are willing to transfer their funds, here are the current top three no notice internet accounts which offer introductory bonuses.

West Bromwich Building Society – WeBSave Bonus

This account pays an annual rate of 3.00pc including a bonus of 1.00pc until 31 March 2011. A monthly interest option is available paying 2.96pc. Savers can invest between £1,000 and £1m but it must be new money to the institution. No advance notice is required to access funds and all withdrawals must be made via a nominated account. The account is available to savers aged 16 and over and can only be operated online.

Alliance & Leicester – Online Saver Issue 7

The Online Saver Issue 7 account, launched today, pays 2.81pc including a 2.31pc bonus for twelve months. Savers can invest between £1,000 and £2m. Funds can be accessed instantly and must be made via a nominated current account. The account can be operated by savers aged 18 and over online only.

Egg – Egg Savings Account (Internet) Issue 2

This account pays 2.80pc on its anniversary including a 2.30pc bonus for twelve months. Savers can invest between £1 and £1m and it must be new money to Egg. All withdrawals made via BACS or CHAPS must be to a nominated account, while no notice is required to access funds. The account is available to savers aged 16 and over and can be operated online only.

Find the best savings accounts for you - Compare savings accounts with bonuses

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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